What We Offer

What is Total Wealth? Is it for you?

Put simply, Total Wealth is the balance of Family Wealth, Physical Wealth, Inner Wealth and Financial Wealth.

“Among our recent seminar participants only 3% claimed that they have planned for their Total Wealth with their spouse/family. But, all of them felt that it is something they must do.”

Conventional wealth management still focuses on financial aspects of “wealth”. It does not bring out the “total needs” of an individual and then plan the financial aspects accordingly. With a range of choices available for investments, insurance and retirement planning a broader approach to understanding the clients’ needs is even more important.

Let’s look at the extreme. Take, for example, a person who has worked all his life in trying conditions to accumulate wealth at the cost of family, health or even marriage. Are these uncommon scenarios? Not at all.

As one of the most successful financial planners confided “My high net worth clients do not need pure financial planning really, because they have enough to retire on for this generation and, in some cases, for the next as well. What they really need is what you call Total Wealth Planning. I have to be more than a financial planner to satisfy these clients.”

Wealth Management sales propositions are often flawed due to the lack of understanding of clients. They do not or cannot articulate the non-financial aspects of their needs. But the non-financial aspects are also wealth. At times, they do matter more than the financial needs. The same applies to risk. Non-financial risks eg. risk of divorce, risk of health problems etc. are difficult to articulate but ultimately they can affect wealth including financial wealth.

Dr Yahanpath puts these in a neat quadrant and calls it Total Wealth Quadrant (TWQ). Then, he develops a range of metrics to measure the “balance” of different drivers of Total Wealth. Only when you press the non-financial buttons people come up with the total picture. Two different scores are calculated using the computer-based calculator. Very soon financial planners and insurance advisors will have to wear the hat of a life coach and what really matters is where the client wants to be in Total Wealth terms.

The approach is relevant to blue collar workers as much as the high net worth individuals. For example, it may be even more important to manage physical wealth for blue collar workers due to the risk involved in their jobs. As a truck driver puts it “Total Wealth Quadrant (TWQ) showed for the first time how poorly I scored on family and physical wealth. If I fix them it will help me to score well even in financial wealth”. The models, processes and metrics can also be used in the Human Resources area in general and in “life balance” coaching in particular.

This is a new approach to wealth management. It is more robust not only in Total Wealth terms but also in financial wealth terms. It brings all key drivers of life under the umbrella of Total Wealth. Once you learn how to view wealth through the prism of Total Wealth it helps you to embrace a more balanced and fulfilling approach to wealth management including financial wealth management.

The approach is agile and flexible. Some can use it as a sales tool or as a “getting to know the client” tool. Others can use the approach to develop deeper client relationships and provide a broader service. This in turn is likely to increase the client profitability.

If the Total Wealth approach is implemented with a long term view in mind then one can expect exponential marginal returns in terms of Total Wealth.

Seven Steps of Total Wealth Coaching

Total wealth coaching involves a process with distinct stages to guide clients toward achieving their goals. While the specific stages may vary depending on the clients and their needs, the general steps are:

1. Establishing Rapport and Trust

Building a strong, trusting relationship between the coach and the client is important for the TW approach. Getting to know the client with the help of Total Wealth Quadrant (TWQ) is the foundation of the coaching program – coach must have a good understanding of the client’s needs and expectations first and then be able to create a safe and supportive environment together with the client.

2.Clarifying Purpose, Goals and Objectives

In this step, the coach helps the client to clearly define and understand the purpose first and then state specific, measurable, achievable, realistic and time-bound goals. This involves understanding the client’s aspirations, challenges, and desired outcomes. Our unique approach requires all this to be done within the TW approach framework

3. Assessment and Discovery

The coach and client work together to assess the current situation and establish client’s TW baseline. This may include evaluating needs, strengths, opportunities, and areas for improvement as well as identifying any obstacles encountered in the past. Authenticity is the key.

4.TW Planning

With the goals clarified and the current situation assessed, the coach and client develop an actionable plan. This plan includes specific steps, strategies, and timelines for achieving the desired outcomes.

5.Implementation and Support

The client begins to implement the action plan. The coach will act as a facilitator by providing ongoing support, encouragement, and accountability. The coach may offer guidance, resources, and feedback to help the client stay on track. The client should be fully committed to the plan and the planning process.

6.Monitoring and Review

Progress is regularly monitored and reviewed to ensure that the client is moving toward their goals. Formal in-person and/or online meetings and ad-hoc messaging as required are an integral part of TW process. This stage involves evaluating what is working, what needs adjustment, and making necessary changes to the plan. Client may complete the review questionnaire.

7.Reflection and Feedback

As the client achieves their goals, it is important to celebrate their successes. This stage also involves reflecting on the journey, recognising growth and learning, and identifying any further steps for continued development. The client will be invited to ongoing TW webinars, workshops and discussion groups.